A recently introduced international tax audit campaign has led to billions of dollars of additional tax receipts for the Canada Revenue Agency (CRA). Several high-profile wins have already led to additional resource allocations to the crackdown on offshore tax evasion. Companies and individuals with Canadian interests should review their tax compliance position, particularly with respect to international transactions and other offshore issues. Clayton & McKervey anticipates that CRA will increase scrutiny of international transactions, which includes transfer pricing, offshore funds transfers, and aggressive tax schemes given the high return on investment in auditing resources. The government of Canada has allotted …

A recently introduced international tax audit campaign has led to billions of dollars of additional tax receipts for the Canada Revenue Agency (CRA). Several high-profile wins have already led to additional resource allocations to the crackdown on offshore tax evasion. Companies and individuals with Canadian interests should review their tax compliance position, particularly with respect to international transactions and other offshore issues. Clayton & McKervey anticipates that CRA will increase scrutiny of international transactions, which includes transfer pricing, offshore funds transfers, and aggressive tax schemes given the high return on investment in auditing resources. The government of Canada has allotted …